Treasury Prices Rise on Fed Minutes

Two-Year Reacts Strongly
To an Indication That End
Of Tightening Cycle Is Near

By

Michael Mackenzie Dow Jones Newswires

Updated Jan. 4, 2006 12:01 a.m. ET

Shorter-dated U.S. Treasury prices got a boost at the expense of longer-dated maturities after the Federal Reserve released the minutes of its December policy meeting and hinted rate increases are nearly finished.

In 4 p.m. trading, the 10-year note was yielding at 4.375%, down from a session peak of 4.42%. Before the release of the Federal Open...